Joe is 68 and retired. He receives retirement benefits from a variety of sources. He receives distributions from his traditional IRA, a private employer pension plan, and Social Security. At the end of the year, what documents will he receive that reflect these payments?

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Piper Bowen

6 January, 15:09

Joe is 68 and retired. He receives retirement benefits from a variety of sources. He receives distributions from his traditional IRA, a private employer pension plan, and Social Security. At the end of the year, what documents will he receive that reflect these payments?

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Roberto Downs · Answer 1

A Form 1099-R for the private employer pension and the IRA distribution and a Form SSA-1099 for the Social Security

Explanation:

Form 1099-R - this form is used to claim the benefit that one would get on retirement. the benefits such as a pension, other annuities. To get the form one should call the authorized number to provide personal details like name, address, calling number and SSN number.

Form SSA-1099 - it is a type of tax form and liable to fill by only those who get social security benefits. it reflects all the details of the social benefit that one gets in the last year. The main purpose of this form is to get some amount of exemption while tax returns.